October 27, 2017 / 4:48 AM / a year ago

Clariant merger foe boosts stake to 20 percent: stock exchange

The logo of Swiss specialty chemicals company Clariant is seen at the company's headquarters in Pratteln, Switzerland August 9, 2017. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Activist investors who oppose Swiss specialty chemicals maker Clariant’s proposed $20 billion merger with U.S.-based Huntsman have boosted their stake to 20 percent, the Swiss stock exchange said on Friday, after Reuters reported the increased holding on Thursday.

White Tale, the investment vehicle formed by hedge fund manager Keith Meister and New York City-based investment fund 40 North to amass Clariant shares, increased its stake beyond the 15 percent reported last month as it intensifies efforts to scuttle the deal.

Reporting by John Miller; Editing by Michael Shields

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